Coupa Software (NASDAQ:COUP) Updates Q3 2023 Earnings Guidance

Coupa Software (NASDAQ:COUPGet Rating) issued an update on its third quarter 2023 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.08-$0.10 for the period, compared to the consensus earnings per share estimate of $0.06. The company issued revenue guidance of $211.00 million-$214.00 million, compared to the consensus revenue estimate of $214.06 million. Coupa Software also updated its FY 2023 guidance to $0.37-$0.44 EPS.

Coupa Software Stock Down 1.1 %

Shares of NASDAQ:COUP traded down $0.71 during trading on Friday, hitting $61.47. 26,112 shares of the company were exchanged, compared to its average volume of 2,593,317. The stock has a market capitalization of $4.67 billion, a P/E ratio of -13.55 and a beta of 1.50. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.82 and a quick ratio of 1.82. Coupa Software has a 12-month low of $50.54 and a 12-month high of $259.90. The firm’s 50 day moving average price is $66.67 and its 200-day moving average price is $75.11.

Coupa Software (NASDAQ:COUPGet Rating) last issued its quarterly earnings data on Tuesday, September 6th. The technology company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.11. The business had revenue of $211.10 million during the quarter, compared to the consensus estimate of $203.99 million. Coupa Software had a negative net margin of 43.73% and a negative return on equity of 24.29%. The company’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.35) EPS. On average, research analysts predict that Coupa Software will post -2.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on COUP shares. Barclays reduced their price target on shares of Coupa Software from $85.00 to $71.00 and set an equal weight rating for the company in a research report on Wednesday, September 7th. Credit Suisse Group assumed coverage on shares of Coupa Software in a research note on Friday. They issued an underperform rating and a $60.00 price objective on the stock. Bank of America dropped their price objective on shares of Coupa Software from $120.00 to $96.00 and set a buy rating on the stock in a research note on Tuesday, May 31st. Morgan Stanley lowered their price target on shares of Coupa Software from $99.00 to $94.00 and set an overweight rating on the stock in a research note on Tuesday, August 16th. Finally, Truist Financial lowered their price target on shares of Coupa Software from $85.00 to $75.00 and set a buy rating on the stock in a research note on Wednesday, September 7th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Coupa Software has a consensus rating of Hold and a consensus price target of $90.35.

Insider Buying and Selling at Coupa Software

In other news, EVP Robert Glenn sold 2,174 shares of the firm’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $66.20, for a total transaction of $143,918.80. Following the transaction, the executive vice president now directly owns 11,675 shares of the company’s stock, valued at $772,885. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Robert Glenn sold 2,174 shares of the firm’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $66.20, for a total transaction of $143,918.80. Following the transaction, the executive vice president now directly owns 11,675 shares of the company’s stock, valued at $772,885. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anthony D. Tiscornia sold 1,449 shares of the firm’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $66.20, for a total value of $95,923.80. Following the transaction, the chief financial officer now directly owns 7,874 shares in the company, valued at $521,258.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,620 shares of company stock worth $1,342,253. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of COUP. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Coupa Software during the first quarter worth about $139,000. MetLife Investment Management LLC acquired a new position in Coupa Software during the first quarter worth about $490,000. Panagora Asset Management Inc. grew its holdings in Coupa Software by 109.1% during the first quarter. Panagora Asset Management Inc. now owns 5,310 shares of the technology company’s stock worth $540,000 after acquiring an additional 2,770 shares during the period. Dimensional Fund Advisors LP grew its holdings in Coupa Software by 12.0% during the first quarter. Dimensional Fund Advisors LP now owns 112,862 shares of the technology company’s stock worth $11,473,000 after acquiring an additional 12,067 shares during the period. Finally, Vanguard Group Inc. increased its stake in Coupa Software by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 6,810,191 shares of the technology company’s stock worth $692,120,000 after purchasing an additional 77,434 shares in the last quarter.

About Coupa Software

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Coupa Software Incorporated provides cloud-based business spend management platform that connects its customers with suppliers worldwide. The company provides visibility into and control over how companies spend money, optimize supply chains, and manage liquidity, as well as enables businesses to achieve savings that drive profitability.

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Earnings History and Estimates for Coupa Software (NASDAQ:COUP)

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